22.10.2007, 10:34 2652

Germany interested in supply of energy from Caspian region - Minister of Economics of Germany

Germany is interested in energy supply from the Caspian region, the Federal Minister of Economics and Technologies of Germany Michael Gloss said on Friday in Baku at the opening ceremony of the Azerbaijan-German forum on Friday, the agency reports.

Baku. October 22. Kazakhstan today - Germany is interested in energy supply from the Caspian region, the Federal Minister of Economics and Technologies of Germany Michael Gloss said on Friday in Baku at the opening ceremony of the Azerbaijan-German forum on Friday, the agency reports.

"Availability of additional sources of energy is important in the questions of energy supply, therefore we welcome the project Nabucco created to export gas to the European countries. The Caspian region can become central for Europe in respect to import of oil and gas. The role of Azerbaijan as the exporter of power resources in the world grows, therefore this country is of great interest as the state of energy exporter," M. Gloss said.

Germany is interested in Azerbaijan investments and invited the Azerbaijan companies to stir up the activity in this direction.

Economic cooperation between two countries as a whole is developing successfully, but Germany is ready to deepen mutual relations with Azerbaijan not only in the sphere of power, but also in the sphere of ecology and refinement of waste, information technologies, manufactures of alternative energy and food-processing industry.

The Minister of Economic Development of Azerbaijan Geydar Babayev informed that signing of any memorandums with the German party during the is not planned.

"The level of economic cooperation with Germany is high. The German companies actively participate in development of the energy sector of Azerbaijan, in the sphere of public health services and construction. Commodity turnover, according to our data, from Germany in 2006 made nearly $500 million, and according to the European Union - 1 billion 062 million euro," Babayev said.

80 German and about 120 Azerbaijan businessmen took part in the forum.

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